Barrick Gold's Board Authorized A New Share Buyback Program For Up To $1B
Portfolio Pulse from Benzinga Newsdesk
Barrick Gold's Board of Directors has authorized a new share buyback program allowing for the repurchase of up to $1 billion of its common shares over the next 12 months. This new program replaces the one announced on February 15, 2023, under which no shares were repurchased. Previously, Barrick repurchased $424 million in common shares under its 2022 program.
February 14, 2024 | 11:05 am
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Barrick Gold has initiated a new $1 billion share buyback program, indicating a strong financial position and potentially increasing shareholder value.
Share buyback programs often lead to a positive market perception, suggesting that the company believes its stock is undervalued. This can lead to an increase in stock price in the short term as it reflects confidence from the company's management in its financial health and future prospects. Additionally, buybacks reduce the number of shares outstanding, potentially increasing earnings per share (EPS) and making the stock more attractive to investors.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100